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CAPITAL ASSET MANAGEMENT SYSTEM
FOR LOCAL EDUCATIONAL AGENCIES IN THE STATE OF WEST VIRGINIA
OFFICE OF SCHOOL FINANCE WEST VIRGINIA DEPARTMENT OF EDUCATION
PROCEDURES MANUAL CAPITAL ASSET MANAGEMENT SYSTEM
FOR LOCAL EDUCATIONAL AGENCIES IN THE STATE OF WEST VIRGINIA
Revised September 30, 2004
Office of School Finance West Virginia Department of Education
FOREWORD Allocating, safeguarding, and accounting for the physical assets of a school system are among the most important responsibilities of school administrators. Expenditures for capital assets are generally the most visible costs a school district incurs. Yet, the accounting for such assets, once acquired, has generally received little attention. Implementation of a capital asset inventory accounting system on the West Virginia Education Information System (WVEIS) will enable local education agencies to maintain an inventory of all assets, including those purchased with federal funds in a current and efficient manner. In addition, the system will assist all agencies in obtaining an unqualified opinion on their audited financial statements, and will assign responsibility and accountability for the security of capital assets. The system can also be used for purposes of insurance and proof of loss. This manual has been developed by the West Virginia Department of Education in order to provide uniform standards throughout the State for all county boards of education, regional education service agencies, and multi-county vocational centers to use in implementing and maintaining a capital asset inventory accounting system on WVEIS. The manual prescribes the minimum requirements that are to be encompassed in establishing such a system, and provides a list of the codes that are to be used in classifying capital assets. The standards presented in this manual were developed by the Office of School Finance, in consultation and cooperation with the Accounting Procedures Committee, various federal program administrators at the Department of Education, and a number of other knowledgeable sources. Their dedicated work is greatly appreciated. Sincerely,
David Stewart State Superintendent of Schools September 30, 2004
TABLE OF CONTENTS Page I. II. III. IV. V. VI. VII. Introduction Requirements Responsibilities Asset Valuation Capital Asset Categories Accounting Policies Required Category and Classification Codes 1 2 4 5 7 11 13
12 VIII. IX. X. XI. XII. Reporting Cycle Tagging of Equipment Control of Assets Annual Physical Inventory Useful Life Table Appendixes: Appendix A – Definitions Appendix B – Optional Description Codes Appendix C – Sample Forms 21 25 34 15 16 17 19 20
The West Virginia Department of Education. officials are concerned as to whether the entity’s assets are being safeguarded and used in a proper and efficient manner. Accordingly. establishing a value for the assets. use and disposition of assets. INTRODUCTION: Government officials have always been under public scrutiny to demonstrate that they are properly fulfilling their stewardship responsibilities. this requires the establishment of an inventory system to ensure that capital assets are adequately controlled. In establishing such a system. The system will also eliminate the need for each federal program director to maintain a stand-alone system and it will provide an inventory of all resources purchased. Each local educational agency is encouraged to supplement this manual with its own local operating procedures.. During the planning stage. Implementation of a comprehensive capital asset management system will enable each entity to accurately reflect the value of its assets in its financial statements and preclude audit findings. to ensure the capital asset inventory system will meet the needs of each. .000 for all assets. etc. transportation. however. facilities. one must be practical and realize the limitations that exist in implementing such an idealistic system. taking a physical inventory of existing assets. The new financial reporting requirements that were established by the Governmental Accounting Standards Board (GASB) in its Statement 34 on Basic Financial Statements and Management’s Discussion and Analysis for State and Local Governments places stronger emphasis on maintaining accurate control and reporting requirements on capital assets. Control over capital assets requires both accounting control as well as physical control. This control is most effective when physical and accounting controls are integrated. recording the assets in the accounting records. Office of School Finance has developed this manual to provide basic guidance to the various local educational agencies in the State in implementing a capital assets management system. regardless of the source of funds. Additional benefits include: information that could be useful to control capital expenditures and avoid duplicate purchases. While it may theoretically be ideal to maintain control over every asset owned by an organization.ii I. The major steps involved in establishing a capital asset management system include: planning. as well as all program directors. In regard to the stewardship of capital assets.. such as finance. To maintain an accurate capital asset management system. a reduction in losses due to theft and unauthorized use of assets. and information needed to file insurance claims. it is necessary to have control over the underlying acquisition. input should be obtained from every functional area. consideration must be given as to what level of control can be effectively maintained with available resources. and implementing the system to record the acquisition of new assets. but an LEA may select a lower control threshold. The maximum required threshold for including a capital asset in the capital asset management system is $5.
000 for building. the following requirements must be implemented: A. however. However.The capital asset management system must be maintained on the West Virginia Education Information System (WVEIS). or a capital asset received by donation. in implementing a capital asset management system.000 or more on an individual basis. Material purchases of like assets. by function.000. including those submitted to the West Virginia Department of Education. An individual local education agency. must utilize the capitalization level of $5. The LEA may select a control level below $5. B. Capitalization Level – A capital asset other than buildings whose original cost is $5. The Fixed Asset Inventory System User’s Guide published by National Computer Systems. must be considered as one asset in determining whether the asset meets the capitalization threshold. Each LEA must adopt its own policies and procedures to specifically address the factors that are unique to the organization. or a lower threshold if selected by the local education agency.II REQUIREMENTS: The purpose of this procedures manual is to establish the minimum requirements that are to be adopted by each county board of education. or a capital asset received by donation.000 or more on an individual item basis. regional education service agency. however.000 after evaluating the needs of the county staff. All financial statements and reports. For instance. the purchase of some library books would not be capitalized because the cost of each individual asset does not meet the capitalization threshold. C. the purchase of enough library books to completely furnish a library in a new school would need to be considered as one asset and the capitalization threshold would be applied to the cost of the books in total. and multi-county vocational center. whose fair market value at the time of receipt equals or exceeds this value on an individual basis must be capitalized for financial reporting purposes. whose fair market value at the time of receipt equals or exceeds this value on an individual basis must be capitalized for financial reporting purposes. the federal program administrators and the local school personnel. Capitalization Level for Buildings – A building whose original cost is $100. is to be used as the guidance for operating the software. D.000 to $100. The instructions included in the user’s guide are not duplicated in this manual. . however. but rather a depreciation expense will be recorded. For consistency throughout the state. Inc.000 or more on an individual basis.000 for all capital assets excluding buildings and the threshold of $100. or a building constructed on school property by school support organizations or received through donation. to reflect the cost of the asset over its useful life. This means that items purchased and capitalized in the current year will not be reported as current expenses in the district-wide Statement of Activities. whose fair market value at the time of receipt equals or exceeds this value on an individual basis must be included in the property record as a capital asset. may select a threshold between $50. WVEIS . jointly referred to as a local education agency (LEA). Control Level – A capital asset whose original cost is $5.
however. The State Department of Education does not require that any items costing less than the capitalization level discussed in the preceding paragraphs be identified as a sensitive item and be included in the capital asset management system. except for land. and construction in progress. G. data projectors. The total cost of the capital assets purchased during the current fiscal year will be shown as a current expenditure in the fund basis statements. printers. the first two digits of the project code element of the account code structure must be completed. Program Assets . the subject element of the account code will need to be completed for every asset belonging to the vocational program. and mobile telephones. Depreciation expense is to be reported by function in the district-wide Statement of Activities. but only the depreciation cost will be reported as a current expense by function in the district-wide Statement of Activities. certain land improvements. vocational directors have historically tracked assets according to the course of study in which the assets are used. In addition to tracking assets by program. The last three digits do not need to be entered when inventorying assets that have already been purchased. Local educational agencies.In order to identify the assets purchased with State or Federal grant funds. This includes the assets that are already on hand as well as those that are purchased in the future. . Depreciation – Depreciation expense must be calculated for all capital assets meeting the capitalization threshold. have the discretion of determining whether to identify any items as sensitive items and include them in the capital asset management system. Sensitive Items . F. Sensitive items could include equipment such as computers. digital and video cameras.Those items of equipment whose cost is generally less than the LEA’s control level but which are identified within the capital asset system for purposes of controlling and tracking.E. If a county vocational director desires to continue tracking this information. television sets. The full five-digit project code will be entered automatically by the system for all assets that are purchased after the implementation of the capital asset management system. prepared in accordance with the accounting principles described in GASB Statement 34.
buildings. • the timely creation of all asset reports. or his/her designee is responsible for: • the monthly transfer of account activity to the capital asset system and reconciliation. Responsibility for the efficient daily operation of the system to order. . Enter the equipment into the asset system. and vehicles for both acquisitions and retirements. or director of a RESA or MCVC. A sample is included in Appendix C. RESPONSIBILITIES: The superintendent. • the supervision and coordination of the initial inventory.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL III. Return any damaged merchandise. receive and record capital assets and sensitive items into the property record is delegated to the chief school business official (CSBO) of each district. Delete from the asset record any equipment that is being disposed. has the overall responsibility for the proper operation and maintenance of the capital management system. equipment. For each asset that is acquired. an individual must be assigned the responsibility to: • • • • • • • Receive and inspect the asset. Federal program directors. A local education agency may want to document the delegation of responsibility through the use of a form. including those purchased through school activity funds or donated by school support organizations or other benefactors. Safeguard the asset. all other directors or managers and all school principals are responsible for the control and security of the assets assigned to the location or administrative unit for which they are responsible. Inventory the asset periodically and reconcile differences with the asset records. All items of equipment which exceed the capitalization level or are considered to be sensitive items as defined in Section IV. • the fulfillment of the property record input function for all expenditures classified as land. The chief school business official. Apply a property tag(s) to the asset. must be entered into the capital asset inventory management system.
4. Costs to maintain and repair assets 8. For asset exchanges. Licensing and registration fees for vehicles and operational equipment 5. Land preparation and demolition costs of existing buildings or other structures with the intent of using the cleared land 10. A. EXCEPT for the cost to remove or demolish a building or other structure existing at the time of acquisition of land 2. Relocation and rearrangement of existing equipment 3. Costs of abandoned construction 9. with all direct costs (including labor) associated with the construction project included in the cost valuation. including the salaries of management personnel. however. External architectural. flood. are not to be included. commission. and design costs 9. that replacement costs be maintained on all major assets for insurance purposes. Interest related to the construction period B. removal and disposition of existing equipment in preparation for a new project. and: 1. 7. net of purchase and trade discounts. It is recommended. including shipping insurance Cost of construction Allocation of fringe benefits and overhead expenses Insurance premiums during construction Installation and inspection costs Appraisal and negotiation fees Title. Demolition. if historical cost is not readily available or determinable. including all ancillary costs. 2. Start-uptime. 3. . Historical costs shall include all applicable ancillary costs. Purchased Assets . Other charges incurred to place the asset in use Costs that should be excluded from the cost of a capital asset: 1. Self-Constructed Assets – Self-constructed assets shall be recorded at actual cost. If it is not possible to readily identify all direct costs. Estimated replacement costs are not to be used for recording capital assets in the Capital Asset Management System and for financial statement reporting.Purchased assets shall be recorded in the capital asset management system at actual cost. engineering. at estimated historical cost. including the cost of correcting flaws 4. fire. legal. 5. ASSET VALUATION: Capital assets must be recorded at historical cost or. All costs must be documented.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL IV. Freight and handling charges. 6. closing and survey fees incurred in connection with the acquisition of land 8. but must be supported by a reasonable methodology. Indirect costs. or other causes 6. such as those due to strike. including methods and sources used to establish any estimated costs. Costs that should be included in the total value of a capital asset include: The purchase price of the capital asset. monies paid or received as part of the exchange 7. based on vendor invoice or other supporting documentation. Extraordinary costs incidental to the construction of capital assets. Administrative and executive salaries. even though a portion of the salary may be related to the acquisition of the capital asset 10. an estimate of the direct costs is acceptable.
donation. or payment of a nominal amount must be recorded at estimated cost equal to the fair market value at the time of acquisition.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL C. . Donated Assets – Capital assets acquired by gift.
All acquisition of land will be capitalized (Use object code 711). depreciable. surveying. Examples of Expenditures to be Capitalized as Land • • • • • • • • • • • Purchase price of fair market value at the time of the gift Commissions Professional fees (title searches. and drainage Demolition of existing buildings and improvements (less salvage value) Removal. Exhaustible • Other improvements that are part of a site. expenditures for improvements not identified with structures. landscaping and fencing. environmental assessments. or facilitate the use of the land for its intended purpose. or reconstruction of property of others (railroad. fill. expenditures to bring land into condition to commence assembly of structures. Examples of Expenditures to be Capitalized as Land Improvements • • • • • • Fencing and gates Landscaping Parking lots/driveways/parking barriers Outside sprinkler systems Recreation areas and athletic fields (including bleachers) Golf courses . the pump and its casing) Right-of-way Land Improvements Land improvement is any non-building improvement built. Land improvements can be categorized as inexhaustible and exhaustible. site preparation and site improvements (other than buildings) that ready land for its intended use. are usually exhaustible and are therefore. enhance the quality of. CAPITAL ASSET CATEGORIES: Land Land is any improved or unimproved tract owned by the board including the cost of betterments.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL V.) Land excavation. Inexhaustible • Expenditures for improvements that do not require maintenance or replacement. telephone and power lines) Interest on mortgages accrued at the date of purchase Accrued and unpaid taxes at the date of purchase Other costs incurred in acquiring the land Water wells (includes initial cost for drilling. installed or established to make land ready. such as parking lots. Land is inexhaustible and does not depreciate over time. legal. relocation. engineering. etc. architect. grading. appraisal. and expenditures for land improvements that do not deteriorate with use or passage of time are additions to the cost of land and are generally inexhaustible and therefore not depreciable.
inspections. All buildings owned or leased by the LEA. basketball courts Fountains Plazas and pavilions Retaining walls Playground equipment A building is a structure that is permanently attached to the land. Cost of building permits Professional fees (architect. it must be a part of a major repair or rehabilitation project.) o Payment of unpaid or accrued taxes on the building to date of purchase o Cancellation or buyout of existing leases o Other costs required to place or render the asset into operation • Constructed Buildings: Completed project costs Interest accrued during construction Cost of excavation or grading or filling of land for a specific building Expenses incurred in the preparation of specifications. warehouses. title searches. blueprints. management fees or design and supervision.e.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL • • • • • • • • Buildings Paths and trails Septic systems Stadiums Swimming pools. architect. is partially or completely enclosed by walls. etc. has a roof. or enlargements) o o o o o o Building Improvements Building Improvements are capital events to owned or leased property that materially extend the useful life. Replacement or restoration to original utility level would not be capitalized. or both. engineer. tennis courts. such as school buildings. legal) o Costs of temporary buildings used during construction o Permanently attached fixtures or machinery that cannot be removed without impairing the use of the land o Additions to buildings (expansions. or increase the value of a building. A replacement may also be capitalized if the new item/part is of significantly improved quality and higher value compared to the old item/part such as replacement of an old shingle roof with a new fireproof tile roof. maintenance garages. which increases the value. and portable classrooms (Use object code 721). administration buildings. and is not intended to be transportable or moveable. and/or useful life of the building. athletic facilities. asbestos abatement) o Professional fees (legal.. Examples of Expenditures to be Capitalized as Buildings • Purchased Buildings: o Original purchase price o Expenses for remodeling. reconditioning or altering a purchased building to make it ready for use for the purpose for which it was acquired o Environmental compliance (i. extensions. LEA’s may use the following as a guideline: if the improvement increases the life or . etc. For a replacement to be capitalized.
blinds. Exterior renovation such as installation or replacement of siding. garages. etc. installation or replacement of beams. sink and fixture refinishing. paneling. repair of deteriorated siding. wallpaper Exterior decoration. such as draperies. pest extermination. fiber optic cable. or HVAC repairs Cleaning. curtain rods. rafters. steel girds. baseboards. or other interior framing Installation or upgrade of window or door frame. joists. Two options exist for recording a building improvement in the fixed asset module on WVEIS. roof. such as awnings. replacement of tile or panel sections. research or classroom space Structures attached to the building such as covered patios. etc. decorative fences. wiring required in the installation of equipment (that will remain in the building) Other costs associated with the above improvements Examples of Building Improvements to be Recorded as Maintenance Expense • • • • • • • • • • Adding. enclosed stairwells. to usable office. networks. touch-up plastering. or parquet Structural changes such as reinforcement of floors or walls. Determinations must be made on a case by case basis. Maintenance-type exterior renovation such as repainting. such as replacement of an old boiler with a new one of the same type and performance capabilities Any other maintenance-related expenditure which does not increase the value of the building . Maintenance-type interior renovation. masonry. etc. carports. etc. light fixtures. upgrading of windows or doors. built-in closets and cabinets Interior renovation associated with casings. etc. or other periodic maintenance Interior decoration. including ceiling fans and attic vents Original installation/upgrade of wall or ceiling covering such as carpeting.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL value of the building by 10% of the original life period or cost. then it may be capitalized. uncovered porches. Examples of Expenditures that may be Capitalized as Improvements to Buildings • • • • • • • • • • • Conversion of attics.. etc. electrical. The cost and useful life of the asset receiving the improvement may be increased or a separate asset record may be created with the cost and useful life of only the improvement. ceiling trim. clinic. roofing. or masonry sections Replacement of a part or component of a building with a new part of the same type and performance capabilities. sunrooms. Installation or upgrade of plumbing and electrical wiring Installation or upgrade of phone or closed circuit television systems. tiles. basements. such as repainting. Installation or upgrade of heating and cooling systems. removing and/or moving walls relating to renovation projects that are not considered major rehabilitation projects and do not increase the value of the building Improvement projects of minimal or no added life expectancy and/or value to the building Plumbing.
automobiles. or set of articles which meets all of the following criteria: • It retains its original shape. machine. Examples of Expenditures to be Capitalized as Equipment • • • • • • • • • • Vehicles Vehicles include all school buses. The purchase of school buses whose original cost exceeds this capitalization threshold should be recorded using object code 741. apparatus. it is more feasible to repair the item than to replace it. and character with use. The purchase of furniture or equipment whose original cost exceeds this capitalization threshold should be recorded using object codes 731. The purchase of vehicles whose original cost is less than the capitalization threshold but exceeds the control threshold established by the LEA should be recorded using object code 692. 734. Original contract or invoice price Freight charges Import duties Handling and storage charges In-transit insurance charges Sales. Vehicles whose original cost is below both the capitalization threshold and the control threshold should be recorded as a supply item using object code 669. all other vehicles whose original cost exceeds the capitalization threshold should be recorded under object code 732. The purchase of furniture and equipment whose original cost is less than the capitalization threshold but equals or exceeds the control threshold established by the LEA should be recorded using object codes 691 through 695. All furniture or equipment contained in the buildings whose original cost equals or exceeds the capitalization threshold of $5. including furniture and equipment acquired through a capital lease. including vehicles acquired through a capital lease. that is. • It is nonexpendable. 733. or 735. use.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL Equipment An equipment item is any instrument. if the item is damaged or some of its parts are lost or worn out. • Under normal conditions of use. appearance. Furniture and equipment whose original cost is below both the capitalization threshold and the control threshold established by the LEA should be recorded as a supply item using object codes 611 through 669.000. • It does not lose its identity through fabrication or incorporation into a different or more complex unit or substance. trucks and vans whose original cost equals or exceeds the capitalization threshold of $5.000. and other taxes imposed on the acquisition Installation charges Charges for testing and preparation for use Costs or reconditioning used items when purchased Parts and labor associated with the construction of equipment . it can be expected to serve its principal purpose for at least one year.
Assets Purchased Directly by the State and Other Donated Assets -All donated assets are valued at fair market value as of the date of donation.000. A. lease agreements are considered noncancellable. d. and the related asset must be recorded as a capital asset of the lessee (LEA): A lease is a capital lease if it qualifies under one of these criteria: a. Assets Acquired Through Lease Agreements . The donating organization should provide the LEA with this valuation. the asset must be recorded as a capital asset of the lessee. Assets leased through agreements failing to meet any of the above criteria should not be recorded as a capital asset. including those submitted to the West Virginia Department of Education. Office of School Finance. Both the control level and capitalization level may be $5. C. All hard and soft costs related to the acquisition of land and building should be included. All financial statements and reports. Neither level may be defined at greater than $5. B. 13 “Accounting for Leases. FASB Statement No.A purchased asset other than buildings (see p. must utilize the capitalization level of $5.000. Freight and installation costs related to equipment should also be added to the invoiced cost of the asset. c. Ownership of the property transfers to the lessee by the end of the lease term. the Department will report the value of the assets at the time the assets are delivered. 13 requires that noncancellable leases meeting any one of the following criteria constitutes a capital lease. The likelihood of cancellation due to such a clause has been deemed a remote possibility.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL VI. So. Material purchases of like assets must be considered as one individual asset for the purposes of applying the capitalization threshold.Assets acquired through lease agreements satisfying criteria established by the Financial Accounting Standards Board (FASB) Statement No.” must be capitalized.000. All leases with governmental agencies in the State of West Virginia must include a fiscal funding clause which provides for cancellation if sufficient funds are not available in a future year to make the required lease payments. Valuation . therefore. The lease contains a bargain purchase option.000 on an individual basis or a donated asset whose fair market value exceeds $5.All capital assets are valued using historical cost which is defined as all costs expended by the county to place the asset into service. ACCOUNTING POLICIES: The accounting and reporting of capital assets is to be done in accordance with the procedures prescribed in Accounting Procedures Manual issued by the Department of Education. D. Present value of minimum lease payments exceeds 90% of fair value of the asset at the beginning of the lease.000 on an individual basis must be included in the property record as a capital asset. For assets purchased directly by the State Department of Education for LEAs. Capitalization Level .3) whose original cost exceeds $5. . if the criteria established above are met and the value of the lease is material to the financial statements. b. The lease term is equal to 75% of estimated useful life of the asset.
The LEA may select a control level below $5. . The lower the control level. or 735. For equipment whose original cost is less than the capitalization threshold but exceeds the control level established by the LEA. 3.000 after evaluating the needs of the county staff. G. the greater the amount of time required to properly track and control these assets It is better to control the big dollar items than to waste time and effort attempting to track minor equipment Regardless of the control level selected by the LEA.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL E. Supply . use object codes 731. 734. it is to be coded as a supply item. several factors are important: 1. Equipment vs. the federal program administrators and the local school personnel. The WVEIS software has the capability to calculate the depreciation amount that is to be reported.The purchase of any item which meets the definition of an equipment item. LEAs must use the straight-line depreciation method (historical cost less residual value. Control Level . as described in Section V of this manual. use object codes 691 through 699. the larger the number of assets which must be recorded The larger the number of assets.000 for consistency. F. 733. divided by useful life) to compute depreciation of capital assets. If an item does not meet the definition for an equipment item or its original cost falls below both the capitalization and control thresholds. is to be coded for financial statement reporting purposes as an equipment purchase. When considering a lower level. Depreciation –Capital assets should be depreciated over their estimated useful lives unless they are inexhaustible. or not. regardless of whether the cost exceeds the control level established by the LEA. all financial reporting must utilize the capitalization level of $5. 2. For furniture or equipment whose original cost exceeds the capitalization threshold. including furniture and equipment acquired through a capital lease.
for computer assets. In addition. Athletic Equipment. LEAs may use these optional codes or other codes which they wish to create. Playground Equipment. Library Furniture. is not required. Building Support Equipment. Compaq Computer Workstation. REQUIRED CATEGORY AND CLASSIFICATION CODES: For standardization. Classroom Equipment. Miscellaneous Furniture. Grounds (Outside) Equipment. Library Equipment. Medical Equipment.VII. Food Service Equipment. Audio Visual Equipment. the following list of description codes must be used. CATEGORY CODES 100000 200000 400000 500000 Land and Improvements Buildings and Improvements Furniture and Equipment Vehicles CLASSIFICATION CODES 100000 150000 200000 210000 220000 400000 401000 402000 403000 404000 405000 406000 407000 408000 409000 410000 411000 412000 413000 414000 415000 416000 417000 418000 419000 420000 421000 500000 501000 502000 503000 504000 Land Land Improvements Buildings. Office Musical Instruments Automobile Bus Truck Van Other Vehicle REQUIRED DESCRIPTION CODES 400001 400003 400004 Back up Storage Computer Workstation. Office Equipment. they must be assigned by the Office of School Finance. Communications Equipment. all capital assets must be classified according to the following category and classification codes. The use of these codes. A list of optional description codes is provided in Appendix B for other types of assets. Custodial (Inside) Equipment. Shop Furniture. Dell . Classroom Furniture. Miscellaneous Equipment. however. Original Building Additions Building Improvements Computers Copiers Equipment. If it is determined that additional codes are needed in these categories. Food Service Furniture.
Hewlett Packard Computer Laptop. Clone Computer Terminal Computer Fileserver. Hewlett Packard Computer Workstation. Hewlett Packard Computer Fileserver. Gateway Computer Fileserver. Color Laser Printer. Gateway Computer Laptop. IBM Computer Workstation. Compaq Computer Laptop. Compaq Computer Fileserver. Gateway Computer Workstation. Laser Printer. Packard Bell Computer Workstation. Apple/MAC Computer Laptop. Clone Computer Laptop. IBM Computer Laptop. Dell Computer Fileserver. Braille Printer. IBM Computer Fileserver. Color Ink Jet Printer. Ink Jet Printer. Clone Plotter Printer. Line Scanner Software Hub Switch Router .400005 400006 400009 400012 400015 400017 400019 400020 400021 400022 400023 400024 400025 400030 400055 400056 400057 400058 400059 400060 400061 400062 400064 400066 400067 400070 400071 400072 400075 400078 400092 400093 400094 Computer Workstation. Apple/MAC Computer Fileserver. Dell Computer Laptop. Apple/MAC Computer Workstation.
Capital Asset Additions This report lists all asset additions to the property record by asset classification.000 capitalization threshold should not be reported on the LEA’s balance sheet. Insurable Value Report This report lists all assets by asset classification as well as sensitive items within location on an annual basis for use in obtaining appropriate insurance coverage and establishing proof of loss. Replacement cost new and insurable value is calculated by the software annually using indices.VIII. REPORTING CYCLE: The following reports are to be extracted from the property records on at least an annual basis: A. E. Detailed Listing of Capital Assets by Asset Class This report lists all asset detail by asset classification as of a certain date. F. B. the report can include or exclude these assets as well. as well as sensitive items. Capital Asset Summary by Category This report lists the capital assets within each major asset category. loss or sale for each asset classification. This is an internal document used for purposes of asset control. . Detailed Listing of Capital Assets by Location This report lists all asset detail by asset classification/sensitive items by location on an as needed basis (but not less than annually) for use in control and accountability by the principals and directors.000. however. as well as sensitive items occurring during the preceding month. the capital assets whose original acquisition costs are less than the $5. D. C. For the LEAs that have selected a control threshold of less than $5. Capital Asset Retirements This report lists all retirements from the property record due to abandonment. The report can be run either monthly or annually. during the month and provides an itemized audit trail. This is an accounting document and provides an itemized audit trail.
The placement of the tag should facilitate its usefulness during the annual inventory process without hindering the operation of the asset. Generally. Consistency of placement is a primary consideration in the tagging process. Tags must have a human readable identification number and be pre-numbered.IX. The first location is easy to determine. donated items whose fair market value at the time of donation meets the capitalization level. TAGGING OF EQUIPMENT: All capital assets must be tagged including: those whose historical cost meets the capitalization level. (1) near the serial number plate or (2) near the upper right-hand corner of the item which is fully visible without movement of the asset. The second location requires the judgment of the chief school business official. . County boards may use tags with a scannable bar code in addition to the identification number. and assets identified by an LEA as sensitive items. property tags are placed in one of two locations.
if goods are delivered to these locations. Some of the issues that should be addressed in the procedures include: 1. CONTROL OF ASSETS: A. at the time the purchase order is issued. quantity. such as the schools. Procedures should be established to ensure that all items to be recorded in the capital asset management system are identified. are included on the original purchase order. Information that needs to be entered when the equipment is received includes: the date received. all costs related to the acquisition of the equipment. Land and Buildings: The chief school business official classifies all costs related to the building account by subclassification for entry into the property record. This can be done at the central board office. A tag is to be affixed to each asset at the time of receipt. or other locations. asset description. and county tag number. Equipment: LEAs need to establish their own procedures concerning how the equipment is to be acquired and identified for entry into the capital asset management system. Cost of service agreements related to the asset should be presented on a separate purchase order. the chief school business official will retire the appropriate portion of the building and add the cost of the improvement to the property record. The information also needs to be conveyed to the accounts payable clerk for payment of the invoice. The procedures should also ensure that. and construction-in-progress to the property record. warranty and freight charges.X. . Requisition and Purchase All requisitions for purchase of equipment should be processed in accordance with each entity’s established purchasing procedures. serial number. the vendor. If software is purchased with computer hardware. model number. The value of a trade-in should be clearly itemized on the purchase order. This information must be added to the property record in sufficient time to meet the accounting period cutoff dates. the value of the software should be identified separately and coded as expensed unless over the capitalization threshold. Land and building retirements will be completed by the chief school business official. central warehouse. building. The chief school business official. the purchase order number. B. is responsible for inputting information related to land. location. the procedures need to specify how the equipment is to be receipted and entered into the capital asset management system. When a building is improved. Receipt of Equipment When the asset is received. such as installation. 2. or other authorized individual.
D. The annual inventory of transportation assets is completed by the transportation director through physical count and matched to the Vehicle Identification Number. A property tag is not affixed to transportation equipment. the chief school business official needs to be notified so that the incident can be reported to the insurance carrier and arrangements made for proof of loss and reimbursement if appropriate. The chief school business official ensures the Vehicle Identification Number and date of acquisition are input into the property record. All asset additions received on the last day of an accounting month should be entered in the capital asset management system on that day. 4. Property Under Capital Leases: The chief school business official calculates the original cost of the asset as the present value of the minimum monthly payments at a rate equal to the county’s current incremental cost of borrowing and applies the appropriate cost. 3. Report of Lost. A sample form is presented in Appendix C. Control of Property Tags The procedures should specify the controls that are to be used to maintain control of the property tags. All other vehicles are the responsibility of the individual(s) assigned by the LEA. C. A sample form is presented in Appendix C. damage or theft. . Special attention should be paid to monthly accounting cutoff dates. Transfer and Retirement Advice A form should be developed for use in reporting when a useable item is transferred to another location for continued use or when an item is retired from service. The same procedure should be followed whether receiving full or partial shipments. 5. The transportation director advises the chief school business official that equipment is received. The asset must then added to the property record in sufficient time to meet the accounting period cutoff dates. More specific instructions on capital leases are included in the Accounting Procedures Manual.The asset is recorded in the property record in accordance with the instructions detailed in the Fixed Asset Inventory System User’s Guide as soon as practical after the item is received. so that the information can be entered into the capital asset management system. Damaged or Stolen Property If an item is retired due to loss. Vehicles: The transportation director is responsible for all transportation assets.
ANNUAL PHYSICAL INVENTORY: To assure the accuracy of the capital asset management system. A training session may need to be held to instruct personnel in inventory procedures.XI. If it is performed by LEA personnel. a work plan should be developed to serve as a guide for the inventory taking process. All discrepancies should be resolved within thirty days. equipment and vehicles recorded in the capital asset management system. and (3) retiring the assets which cannot be located following the location accounting. . Assets which are still missing at the end of the thirty days should be reported to the superintendent and chief school business official for appropriate action. buildings. a physical inventory should be performed annually of all land. A listing should be printed of all discrepancies noted between the inventory records and the actual inventory by location or administrative unit. The chief school business official is responsible for coordinating this activity and reconciling the asset records during the location accounting by (1) correcting the file for the assets located during the location accounting. This process is known as the location accounting. A reconciliation between the physical count and the capital asset records should also be completed. The inventory may be performed by LEA personnel or by an outside company. (2) recording the assets that are identified during the physical inventory that are not listed in the inventory system.
fencing. front-end loaders. large tractors. network hardware Computer Software Instructional. its condition at the time of acquisition. concession stands School Buildings Portable Classrooms HVAC Roofing Interior Construction Carpet Electrical/Plumbing Sprinkler/Fire System Fire suppression systems Outdoor Equipment Playground equipment. mobile compressors Grounds Equipment Mowers. fuel pumps Machinery and Tools Shop and maintenance equipment. weight machines. portable radios. driveways. capital asset managers must take all of these factors into consideration at the time a capital asset is entered into the Capital Asset Management System. other Science and Engineering Lab equipment. outdoor lighting Long-Term Site Improvements Football stadiums. Estimated Useful Life In Years N/A 20 35 50 25 20 20 25 7 30 25 20 15 12 15 10 20 5 2 3 5 5 to 10 10 to 20 10 10 10 5 to 7 12 8 10 10 Asset Class Land Site Improvements Examples Athletic facilities. brass. retaining walls. radio towers. attachments .XII. tools Kitchen Equipment Appliances Custodial Equipment Floor scrubbers. printers. however. In determining a particular asset’s useful life. parking lots. non-computerized Computer Hardware Personal computers. reed. sidewalks. other short-term Computer Software Administrative or long-term Audio Visual Equipment Projectors. scientific apparatus Furniture and Accessories Classroom and office furniture Business Machines Fax. percussion Library Books Collections School Buses Other Licensed Vehicles Maintenance. and a variety of other variables that may affect an asset’s utility. policies and practices of a school district relating to the frequency in which assets are replaced. fuel tanks. cameras. football. vacuums. the useful life of a particular asset may vary depending on that asset’s intended use. RECOMMENDED STANDARD USEFUL LIFE TABLE: The following table lists the recommended useful life of various capital assets owned or leased by West Virginia school districts. string. administrative. driver education Construction Equipment Major off-road vehicles. wrestling mats Musical Instruments Pianos. The table is provided as a guide in determining the anticipated useful life of a capital asset at the time of acquisition. (still and digital) Athletic Equipment Gymnastics. tractors. duplicating and printing equipment Copiers Communication Equipment Mobile.
APPENDIX A DEFINITIONS .
to qualify as a capital lease: 1. and vehicles. any roofed structure used for permanent or temporary shelter of persons. Capitalization Level .The systemic allocation of the cost of an intangible asset over its intended useful life. ensuring all recorded assets are classified properly.000 for buildings. vegetation. All financial statements. not measurable at the time a capital asset is recorded in the LEA’s capital assets management system. including any profit thereon). Not included are furniture. buildings and building improvements. the structure. such as loading docks. or 2. and taxes. heating and air-conditioning systems. Amortization .000.DEFINITIONS Accumulated Depreciation – The total depreciation expense accumulated since the acquisition date of the capital asset through the current fiscal year. or 3. The recorded amount is the cost to acquire the asset plus all costs necessary to get the asset ready for its intended use (known as ancillary costs). One or more of the four following criteria must be met. installation. . related to placing a capital asset into its intended state of operation. animals. however. Building Improvement – Improvements include not only structures. must use a capitalization level of $5. ancillary costs are to be included in the capitalized cost of an capital asset. Asset Classification – The systematic arrangement of assets into categories. The lease contains a bargain purchase option.The level at which capital assets are reported for financial statement purposes. Ancillary Costs – Costs. Capitalize – To record as a long-term asset. fixtures. 3). in addition to the purchase or construction costs. and systematically. Asset Inventory System – A system providing control of and accountability for the LEA’s inventorial long-term assets. and maintenance and repairs which are substantially incomplete. reconstruction. minor ancillary costs. Construction in Progress . Depreciation is not applicable while assets are accounted for as Construction in Progress. The present value of the minimum lease payments (at the inception of the lease). additions.The level at which capital assets are entered into the capital asset inventory system.000 for all assets other than buildings and $100. is ninety percent (90%) or more of the fair market value of the leased property. excluding land. excluding executory costs (usually insurance. and all other property permanently attached to. or equipment.Construction in Progress reflects the economic construction activity status of buildings and other structures. enabling the agency to monitor the physical condition of those assets. Items that qualify as a capital lease must be capitalized and depreciated. or 4. alterations. Each county board. Book Value – The cost of the capital asset less the accumulated depreciation recorded to date. Capital Leases – A lease with contractual terms transferring substantially all benefits and risks inherent in ownership of the property to the State. maintenance. By the end of the lease term ownership of the leased property is transferred to the State. or a lower threshold (see p. including reports submitted to the West Virginia Department of Education. These categories include: land and land improvements. or other equipment that are not an integral part of the structure. Normally. and providing a documented audit trail of transactions. accurately. providing information necessary for the State’s CAFR. or an integral part of. but also associated items. equipment. may be expensed. The lease term is equal to 75 percent or more of the estimated useful life of the leased property. RESA and MCVC may select a control level that is less than the capitalization level of $5. Control Level . Buildings – A capital asset reflecting the acquisition costs of a permanent structure.
or change made in.Attachments to a building that are not intended to be removed without damage to the building. not specifically identifiable to an individual building. The present value is always smaller than the known future amount because interest will be earned and . such as parking lots and fencing.The expenditure made to acquire a long-term asset. memos. approved purchase orders/requisitions. should be considered depreciable. vehicles. oil. reflecting the cost of permanent improvements adding value to the land. Generally Accepted Accounting Principles (GAAP) requires assets to be recorded at actual or estimated historical cost. receiving reports.The actual full cost to place the asset in service to include equipment freight and installation charges and building hard and soft costs as described in detail in Section IV. These assets should be removed from the agency’s asset management system. will or other instrument executed by or on behalf of the owner of the land. to prolong its life or to increase its efficiency.Assets whose installed cost is greater than the capitalization level and whose useful life exceeds one year. Depreciation – The systematic allocation of the cost of a capital asset over its intended useful life.An addition made to.Capital Assets . Examples of land improvements are listed in Section V. Long-term Assets . Net Present Value – The amount that must be invested now to produce a known future value. Cabinets affixed to the wall are also an example of a fixture. Fair Market Value – The price actually given in current market dealings or the price a buyer would be willing to pay a willing seller to exchange property. Land – Land with the title owned by the LEA. Historical (Original) Cost . Depreciation Method . etc. competitive bids. Documentation – Data such as invoices. etc. covenant or condition. supporting the entries made in an agency’s asset management system. Straight-line assumes that the asset will depreciate at the same rate each year of its useful life. other than land or building and readily identifiable as not being a component of the building in which it normally resides such as office furniture. deeds. Examples of improvements are listed in Section V. Disposals – Long-term assets that are no longer used by the agency. improvements that are considered part of the structure or that deteriorate with use or the passage of time. a building.For the purposes of implementing GASB 34. Cost . complete in itself.Long-term assets used in the operations of the LEA to produce goods or services. chapter laws. Fixtures . contracts. minutes. construction equipment. office equipment. An example is a lab table with a sink that is affixed to the floor. Land Improvements – Capital assets. minerals. easement. in any deed. depreciation will be calculated using the straight-line depreciation method. budgets. Equipment – A durable capital asset. Depreciation Expense – The amount of depreciation allocated for the current fiscal year. Improvement . other than maintenance. Improvements that produce permanent benefits – for example fill and grading costs that ready the land for the erection of structures and landscaping are not depreciable. Alternatively. Depletable Resources – Resources associated with land such as timber. whether stated in the form of a restriction. etc.The restraint or restriction placed on the use of land. Land Rights .
and Building Improvements. Repairs are recorded as expenditures in the accounting period in which they are incurred.accumulated on the present value to the future date. Replacement Cost . Land Improvements. Real Property – The name used when referring to the following categories in the aggregate: Land. Salvage Value – The estimated value of an asset at the end of its useful life. Useful Life – The period of time during which an asset is physically performing its function.Those items of equipment whose cost is generally less than the LEA’s control level but which are identified within the capital asset management system for purposes of tracking. Supply . For financial reporting purposes. Buildings. Sensitive Items . all assets are considered to have a zero salvage value.The amount of cash that would be required as of a certain date to replace an asset with one of equal utility at current labor and material rates. This term is most often used with insurance. .An item should be classified as a supply item if it does not meet all of the criteria established for an equipment item. Repairs – Expenditures made to maintain long-term assets in operating condition.
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL APPENDIX B OPTIONAL DESCRIPTION CODES .
Squat Weight Set Popcorn Machine Stop Light Whirlpool Bath Camera. Landscape Land Improvement. Dividers Building Improvement. Amplifier PA. Carpet Curtains. Film Projector. 35mm Camera. Wrestling Scoreboard Weight Bench Weight Machine Leg Curl Machine Weight Machine. Mechanical Building Improvement. Stage Building Improvement. Gymnastic Mat. Plain Paper Risograph Balance Beam Trampoline Mat. Blinds Building Improvement. Hall Gate Alarm System Bleachers Copier.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL OPTIONAL DESCRIPTION CODES CODE 100000 150001 150002 150003 150005 200001 210001 210002 210006 210007 220001 220002 220003 220004 220005 220007 220008 220009 220015 220020 401001 401005 402001 402005 402010 402020 402030 402040 402050 402053 402060 402070 402075 402076 402080 403001 403002 403005 403006 403007 403010 403014 403015 403020 403025 403030 403035 403040 DESCRIPTION Land Land Improvement. Paving Land Improvement. Concrete Building. Audio Compact Disc Player Laser Disc Player PA. Additions Building Construction. Elevators Building Improvement. Digital Camera. Stairwells Building Construction. Gravel/Grading Land Improvement. Windows Building Improvement. Original Construction Building Construction. Video Enlarger Safelight Sound Level meter Cassette Player. 35mm Slide . Roofing Building Construction. Television System Building Improvement. Portable Projector.
Overhead Satellite System Speakers. Digital Multi Locker Clock. Time Microfiche Reader and/or Printer Spectroscope Celestial Globe Magnetizer Lab Oven Microscope Video Microscope Spectrum Opt Elec Oscillator Dewar Flask Life Pak Defibulator Defibulator Simulator Oscilloscope Rain Box Incubator Autoclave PH Meter Centrifuge Laser Frequency Generator Strobe Scope Dryer. Home Ec Goggle Sanitizer Mat Cutter/Edger Skeleton Anatomical Model Sterilizer Vandegraph Generator Rotometer Heat Mantiles Pressure Gauge . Laundry Domestic Range.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 403045 403050 403055 403060 403066 403069 403070 403071 403072 403073 403075 403080 403086 403087 403090 404025 404030 405001 405002 405003 405004 405005 405008 405012 405014 405016 405017 405018 405019 405020 405021 405022 405023 405024 405025 405027 405028 405029 405030 405040 405050 405051 405055 405056 405061 405062 405065 405066 405067 405068 405069 405070 405071 Projector. Laundry Domestic Washer/Dryer Combination Dry-cleaning Machine Mixer. Opaque Projector. Stereo Microphone Video Editing Processor Television Television w/built-in VCR Mixer. Kitchen Domestic Washer. Digital Mixer. Heavy Duty. Audio Digitizer Video Cassette Recorder (VCR) Video Processor LCD Panel Meter.
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 405072 405073 405074 405080 405081 405083 406005 406020 406025 406030 406035 407001 407002 407005 407006 407007 407010 407011 407015 407020 408001 408002 408003 408004 408005 408006 408007 408010 408011 408015 408018 408021 408024 408027 408030 408031 408032 408033 408035 408036 408037 408039 408042 408045 408048 408051 408054 408057 408058 408059 408060 408061 408062 Strip Chart Recorder Watt Meter Spectrophoto Meter Pendulum. Ice Coffee Maker Juicer Machine. Foucoult Fly Meter Water Bath Bus Radio Marker Board Cell Phone Pager Walkie/Talkie Cart. Electric Hot Plate Machine. Toaster Toaster Rack. Conventional Oven. Food Storage Rack. Food Blender Dishwasher Disposal Dough Divider Freezer Freezer. Tray Rack. Buffer Floor Machine. Popcorn Milk Cooler Mixer. Convection Oven. Garbage Can Opener Cash Register Steam Table Chopper. Food Oven. Ice Cream Machine. Scrubber Floor Machine. Tray Cart. Gas Cooking Range. Custodial Dolly Floor Machine. Pan . Deep-fat Cooking Range. Carpet Vacuum Cleaner Vacuum Backpack Vacuum. Walk-in Fryer. Microwave Oven. Wet or Dry Beverage Dispenser Cart. Food Service Cart. Shop Vacuum.
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 408063 Refrigerator. Regular .
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 408066 408069 408072 408073 408075 408078 408081 408083 408086 408087 408093 408094 408095 409050 409055 409060 409065 409070 409073 409076 409079 409081 409084 409087 409090 409096 411001 411002 411003 411004 411005 411007 411008 411009 411010 411011 411012 411015 411016 411017 411018 411019 411020 411021 411022 411023 411024 411025 412001 412020 412059 412060 412075 412098 Refrigerator. Power Tap & Die Set Washer. Power Wrench. Farm Tractor Attachment. Lawn Sprayer Tractor Attachment. Mower Tractor. Clinic Grasshopper Vestibulator Vestibulator Swing Wheelchair CPR Dummy AD Trainer Ear Scan Suction Machine Thermoscan Side Board Belly Board Adaptability Exerciser Wedge Tumble Form Audiometer Oxygen Pac Titmus Vision Tester Bar Code Reader (POT) Laminator Brailler Oil Drain Popcorn Machine Fan . Gas Powered Hedge Trimmer. Gas Powered Mower. Walk-in Scales Sharpener Slicer Steam Kettle Steamer Vertical Cutter Warmer Booster. Hot Water Heater Sink Sink. Pneumatic Blower. Leaf Edger/Trimmer. Small Refrigerator. Handwash Tilt Skillet Snake. Lawn Mower Type Trailer Equipment Recovery Couch Recovery Cot Phone Stand Lifter Scales.
Power Switchboard Answering Machine Paper Shredder Hole Punch. Pedestal Saw. Hydraulic Joiner Toolbox Lathe. Bank . Wood Miter Box Planer Radius Bender Sand Blaster Hydraulic Press Grinder.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 412099 413001 413002 413003 413004 413005 413006 413007 413008 413009 413010 413012 413015 413020 413021 413022 413025 413026 413030 413031 413040 413045 413046 413050 413051 413060 414001 414005 414010 414020 414030 414040 415001 415005 415006 415007 415008 415009 415010 415011 415012 415013 415015 415016 415020 415025 415026 415030 415031 415032 415033 415034 415035 Heater. Weight (Clinical) Word Processor Jungle Gym Climber Adaptive Playground Equipment Merry-go-round Slide Swing Set Teeter Totter Kiln Potter’s Wheel Sander. Biscuit Drill Press Injection Molder Hydraulic Engine Hoist Jack. Binding Burster Folder Check Signer Sign Maker Label Maker Poster Maker Collator De collator Machine. Dictating/Transcribing Ellison Letter Machine Shredder Machine. Portable Machine. Metal Lathe. FAX Telephone. Electric Postage Meter Calculator Cash Register Postage Scale Scales. cordless Stapler. Belt Disk Strip Heater Dust Collector Cutter.
Radial Arm Saw. Circular Saw. Instrumental Seated Table Home Economics Table Cafeteria Table. Compound Miter Slide Saw.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 415038 415039 415040 415041 415043 415045 415046 415047 415048 415049 415050 415055 415056 415059 415060 415062 415063 415064 415065 415066 415069 415070 415071 415072 415073 415074 415075 415076 415077 415078 415079 415080 415085 415086 416005 416008 416009 416010 416011 416012 416013 416020 416025 416028 416029 416030 416035 416040 416045 416050 416055 417001 417002 Metric Raceway Sharpener. Motor Applied Mechanisms Trainer Air Table Battery Tester/Charger Scale. Reciprocating Saw. Small Welder. Electric Hand Held Grinder. Box Welder. Sabre Saw. Mig Welding Torch Set Router Table Welder. Chain Saw Saw. Precision Balance Power Supply Voltage Meter Solvent Tank Sewing Machine Bookcase Tray Cart Carrel. Choral Standing Riser. Tig Plasma Cutter Robot Arm Fertilizer Dispenser Router Drills. Hand Planer Grinding Attachment Water Pump Generator. Table Shop Oven. L. Miter Saw. Study Artwork Display Case Riser. Head Hydraulic Trainer Level Sander. Jig Saw. Scroll Saw. Technical Ed . chain Saw. Arc Crucible Forge Furnace Sheet Metal Shear Welder.
Quad Drum. Fireproof File Table. Snare Drum. English Horn. Computer Map Safe Coat Rack Bookcase Cabinet. French Keyboard Melophone. Baritone Horn. Marching Marimba Oboe Organ Piano Clavinova Piccolo Sax. Bongo Drum. Stenographer Desk Bassoon Cello Bells Orchestra and Stand Bells Marching Cello. Electric Guitar. Bass Chimes Congo Clarinet. Bass Concert Drum. Alto Clarinet.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 417003 417004 418010 419004 419010 419020 419025 419029 419030 419031 420001 420020 420080 420081 420090 421001 421003 421004 421005 421006 421007 421008 421009 421010 421012 421013 421014 421015 421016 421018 421019 421021 421024 421027 421028 421030 421031 421032 421033 421036 421039 421042 421045 421048 421050 421052 421053 421054 421057 421060 421061 421063 421066 Baker’s Table Table Workstation. Library Table or Workstation. Alto . Tympani Flute Glockenspiel Gong Guitar. Alto Horn. Acoustic Cymbal Harp Horn. Bass Drum Set Drum. Storage Cabinet. Bass Marching Drum. Flugal Horn. E-Flat Clarinet. Office Couch Chair Executive Chair. Computer Table.
Bass Trombone. Air Vacuum Pump Forklift Generator Jack. Small Truck Van. Baritone Sax. Tenor Sousaphone Trombone. Tenor Trumpet Tuner Tuba Viola Violin Xylophone Cement Mixer Charger Battery Compressor. Full-Size Bus. Floor Hydraulic Ladder Fan. Extended Other Vehicle . Commercial Automobile. Compact Automobile. Pallet Jack. Soprano Sax. Regular Van. Mid-Size Automobile.CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL 421069 421072 421075 421078 421081 421084 421087 421089 421090 421093 421096 421099 480001 490005 490010 490011 490015 490020 490030 490040 490045 490048 500001 500005 500010 501001 502001 503001 503005 504001 Sax.
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL APPENDIX C SAMPLE FORMS .
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL DELEGATION OF RESPONSIBILITY FORM Local Education Agency School/Location/Department The following person is responsible for the property inventory for the school/location/department named above and is responsible for all inventory items during the school year: Name Title: Accepted: Signature Printed Name Title Date Two part form routed to: Chief School Business Official (Original) Signor .40 - .
Retire _____________________________ __________________________________ Item Description ___________________________________________________________________ Current location ___________________________________________________________________ Reason for transfer or retirement ______________________________________________________ _________________________________________________________________________________ Originator’s Signature Date TO BE COMPLETED BY CHIEF SCHOOL BUSINESS OFFICIAL Date asset received from location _______________________________________________________ Method received: District pick-up Vendor pick-up _________________________ Transferred to ______________________________________________________________________ Date transferred or disposed ___________________________________________________________ Date entered into property record _______________________________________________________ Comments _________________________________________________________________________ _________________________________________________________________________________ Capital Asset Manager’s Signature Date .41 - .CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL TRANSFER AND RETIREMENT ADVICE FORM County Board of Education TO BE COMPLETED BY ORIGINATOR Mark one: Transfer to Property Tag Number Serial No.
CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL REPORT OF LOST. Tag Number .42 - . Theft. DAMAGED OR STOLEN PROPERTY (Report on Arson. Unexplained Loss. Burglary. and Failure to Return) School/Department Date loss discovered Who discovered the loss Reported to the Police: Yes Police Department Date of Report Briefly explain circumstances: Police Complaint No No Quantity Asset Description Serial No. Vandalism.
43 - .CAPITAL ASSET MANAGEMENT SYSTEM PROCEDURES MANUAL Quantity Asset Description Serial No. Tag Number Signature Date .